33 Chinese companies have entered the 2023 Hurun Global 500.
On January 31, the Hurun Research Institute released the "2023 Hurun Global 500" (2023 Hurun Global 500), which lists the world's top 500 non-state-owned enterprises, ranked according to the market value or valuation of enterprises, and Nvidia, Meta, Eli Lilly and TSMC are new to the top ten. Exiting the top 10 were UnitedHealth Group, Johnson & Johnson, ExxonMobil and Visa. With the exception of TSMC, the top 10 are now all from the United States.
According to the list, the total value of the world's top 10 most valuable companies increased by 18 trillion yuan from last year to 89 trillion yuan, accounting for 23% of the total value of Hurun's top 500 companies.
Specifically, Apple continued to be the world's most valuable company with a value of 19 trillion yuan, an increase of 12%; Microsoft ranked second with 18 trillion yuan, an increase of 39%, or 5 trillion yuan, which was the largest increase this year; Alphabet ranked third, up 18% to 11 trillion yuan; Amazon ranked fourth, up 13% to 10 trillion yuan; Chipmaker Nvidia more than tripled in value, becoming the fifth trillion-dollar company in the world. The total value of the top five companies is 66 trillion yuan, an increase of 15 trillion yuan in the past year.
According to the list, the market value of listed companies is calculated according to the ** price on October 31, 2023, and the valuation of non-listed companies is estimated with reference to listed companies in the same industry or according to the latest round of financing.
The threshold for entering the Hurun Global 500 was raised by 7% from last year to 217 billion yuan. The total value increased by 12% from last year, or 42 trillion yuan, to 382 trillion yuan. The value of 337 companies rose, of which 48 were new to the list, led by Netherlands-based commodities ** company Victor Group and ChatGPT parent company OpenAI, worth 479 billion yuan and 362 billion yuan respectively. 163 companies fell or remained unchanged in value, and another 48 companies were off the list.
Among the Hurun Global 500 companies, the United States dominates, with 261 companies, accounting for 52% of the total and 65% of the total value. China ranked second with 33 companies on the list.
The 33 Chinese companies are led by Taiwan's TSMC, followed by Tencent and Alibaba. These three companies ranked first and 38th on the list, respectively. There are 5 new companies on the list, followed by Li Auto, Kuaishou, Anta Sports, Luxshare Precision and Haier Smart Home. Seven companies were off the list, namely LONGi Green Energy, Jingdong Technology, Tongwei, Aier Ophthalmology, SF Holdings, Taikang Group and Muyuan Food.
The largest increase in value was TSMC, with an increase of 14 trillion yuan, followed by Tencent with an increase of 930 billion yuan, and Pinduoduo with an increase of 670 billion yuan. These Chinese companies are spread across 13 cities, led by Shenzhen and Beijing, with seven each, and Hangzhou with four. The average age is 27 years old, well below the average age of the entire list, which is 68 years old.
In terms of sectors, software and services companies were the biggest winners this year, followed by semiconductors, and media and entertainment companies. The total value of software and services companies increased by 10 trillion yuan in the past year. Thirteen new companies entered the top 100, led by AMD Semiconductor in the United States, which rose 58 places to 58th, and its value increased by 67% to 12 trillion yuan.
The worst-performing sectors include financial services, telecommunications, and energy. The financial services sector is impacted by rising interest rates and global economic uncertainty, the telecommunications sector is impacted by the rise of cloud services and instant messaging software, and the energy sector is impacted by oil prices** and an oversupply of renewable energy.
In addition, the Hurun Global 500 only includes non-state-owned enterprises, so it is worth 155 trillion yuan of Saudi Arabian National Oil Company or worth 2State-owned enterprises such as Kweichow Moutai, which has 2 trillion yuan, are not on the list. In 2023, a total of 48 state-owned listed companies in the world will reach the Hurun Global 500 threshold (217 billion yuan), of which 29 are from China.
*: The Paper).